I am working on finishing up my last semester of college and will be done in December with an economics and finance degree. I have traded stocks, options, futures and forex off and on for the past 2 years and like most others have lost much of my money. I would like a career where I would be working with a team of traders instead of on my own. I would prefer to start out in Chicago but don't know what the best route is to start out. Would a job as a floor clerk be the best way to start? Or would I be best off trying to start off at a prop shop? I was also wondering how hard it was to score a job as a clerk or prop trader in Chicago. Has anyone on here started as a clerk and if so how did you like it?
Having a degree will get zero experience in the trading world. Brokers aren't traders their sales monkeys if you didn't know. Since you have a limited amount of trading you may want to try going with a Prop and put up about $5K of your own cash. Get your Series 7 and learn from the guys that have made money over a bull and bear market.
i the first step would be directing you the the "search" button at the top of the thread, there is atleast one new of these postings a week.
If you are smart and interview well you can start as a clerk on one of the Chicago exchanges, or become a trader trainee with an off floor firm. I'd stay away from any prop firm that requires a capital commitment or places that pay a draw instead of a salary. Your economics degree will open more doors than finance, so let that lead your resume. The days of âthey donât care what kind of educationâ you have on the floor are over. The floor is shrinking and only those with trader instincts AND are well educated are surviving. Good luck.
Can you explain why you think this is? I am a college junior and was undecided between econ and finance for a long time. I had always heard the opposite of what you said. I questioned about it here on ET quite some time ago and got mixed thoughts including econ, finance, accounting, engineering, comp sci, some even said a law degree would be best for trading. Others said it really didn't matter. Is it all just what you enjoy and what your employer prefers?
econ, finance, and accounting are all bs and waste of time / money, dont bother. and there is no such thing as "pre-law"
wanna start a trading career? try trading the porn dvds first and see if you like it. better chance you might come out ahead in porn than in trading ;-)